Kingbird, Inc. has the following account balances: Sales Revenue $192,400, Sales Discounts $4.210, Cost of...
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Accounting
Kingbird, Inc. has the following account balances: Sales Revenue $192,400, Sales Discounts $4.210, Cost of Goods Sold $123,900, and Inventory $46.700 Prepare the entries to record the closing of these items to Income Summary. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
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